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Implementation of CBS

The deployment of CBS should be controlled at various stages to ensure that banks automation objectives are achieved:

  • Planning: Planning for implementing the CBS should be done as per strategic and business objectives of bank.
  • Approval: The decision to implement CBS requires high investment and recurring costs and will impact how banking services are provided by the bank. Hence, the decision must be approved by the board of directors.
  • Selection: Although there are multiple vendors of CBS, each solution has key differentiators. Hence, bank should select the right solution considering various parameters as defined by the bank to meet their specific requirements and business objectives.
  • Design and develop or procured: CBS solutions used to be earlier developed in-house by the bank. Currently, most of the CBS deployments are procured. There should be appropriate controls covering the design or development or procurement of CBS for the bank.
  • Testing: Extensive testing must be done before the CBS is live. The testing is to be done at different phases at procurement stage to test suitability to data migration to ensure all existing data is correctly migrated and testing to confirm processing of various types of transactions of all modules produces the correct results.
  • Implementation: CBS must be implemented as per pre-defined and agreed plan with specific project milestones to ensure successful implementation.
  • Maintenance:CBS must be maintained as required. E.g. program bugs fixed, version changes implemented, etc.
  • Support:CBS must be supported to ensure that it is working effectively.
  • Updation: CBS modules must be updated based on requirements of business processes, technology updates and regulatory requirements.
  • Audit: Audit of CBS must be done internally and externally as required to ensure that controls are working as envisaged.

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